Apollo to provide EUR 500M capital solution to Air France business

Apollo (APO) announced the signing of an agreement for Apollo-managed funds and affiliated entities to make a EUR 500 million investment into an Air France affiliate owning a pool of components dedicated to the airline’s Engineering and Maintenance activities. Air France is a fully owned subsidiary of Air France-KLM (AFLYY). The bespoke transaction, part of Apollo’s high grade partnerships, will provide one of the world’s leading airlines with a custom capital solution to further strengthen its balance sheet and support the future purchase of components related to maintenance activities. Apollo Partner Jamshid Ehsani said, “Apollo is pleased to continue to serve as a long-term strategic capital partner to Air France-KLM, indicative of our ability to provide custom capital solutions like this to some of the world’s leading companies. This transaction will help Air France-KLM execute on its strategy through a highly attractive investment. Our ability to structure creative, scaled solutions at a wide range of capital costs differentiates us from many other platforms and provides attractive investment opportunities for both affiliated and third-party insurers as well as other institutional clients.”